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#4
12-22-2020, 11:57 PM
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Hi Patty
SSAP 6 says that you should apply the nonadmitted rules and then, if you believe there are additional amounts uncollectible, in excess of what has been nonadmitted, then those balances should be charged off to operations. The practice you are proposing, while more conserve (bad debt reduces income while nonadmitted only reduces surplus), it is not in conformity with the principles laid out in SSAP 6.
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Jeff Clevinger Booke Seminars Instructor 
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